#taxcompliance

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

The clock is ticking for taxpayers who are required to file their income tax audit reports for the financial year 2024–25. The deadline has been set for September 30, 2025, and unlike in some past years, the Income Tax Department has not announced any extension. For companies, proprietorships, and firms whose accounts must be audited, filing the audit report on time is not just a compliance requirement—it is essential to avoid hefty penalties unde

Business

24 Sep 2025 04:16 AM 453 views

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

Business

Big GST Reforms Coming Soon, PMO Signals Green Light

The Prime Minister’s Office (PMO) has approved a significant overhaul of India’s Goods and Services Tax (GST) system, paving the way for major reforms to simplify the tax structure. The proposal is set to be discussed in the upcoming GST Council meeting in August. The finance ministry has already initiated discussions on the changes, which are expected to streamline the GST system and ease compliance for businesses and consumers alike.

Business

16 Jul 2025 01:05 AM 690 views

Big GST Reforms Coming Soon, PMO Signals Green Light

Business

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

If you're a tenant paying more than ₹50,000 in monthly rent, you could be sitting on a potential tax penalty without realizing it. As per Section 194-IB of the Income Tax Act, even salaried individuals not just business entities are required to deduct 2% Tax Deducted at Source (TDS) from the rent and deposit it with the government. This provision applies to anyone paying high-value rent and is often overlooked, leading to costly mistakes.

Finance & Economics

07 Jul 2025 08:30 AM 541 views

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Finance & Economics

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#taxcompliance

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

Big GST Reforms Coming Soon, PMO Signals Green Light

Big GST Reforms Coming Soon, PMO Signals Green Light

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Smart Financial Tips for International Students: Budgeting, Saving, and Thriving Abroad

Santa Clara County assessor race heats up with record fundraising before special election

Illinois residents targeted by phishing scam using fake legal code

Syria Faces Uncertainty After Assad's Fall: A New Era Begins

Classic and Vintage Cars

DC residents protest federal takeover of Metropolitan Police Department

Gen Alpha Kids: Traits, Lifestyle, and What Sets Them Apart

Broadview ICE facility fence removed after legal battle and protests

US plan for Gaza outlines divided security zones under new proposal

Bitcoin Drops to 16-Month Low: Is a Fall Below $60,000 Imminent?

Popular Cities

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Smart Financial Tips for International Students: Budgeting, Saving, and Thriving Abroad

Santa Clara County assessor race heats up with record fundraising before special election

Illinois residents targeted by phishing scam using fake legal code

Syria Faces Uncertainty After Assad's Fall: A New Era Begins

Classic and Vintage Cars

DC residents protest federal takeover of Metropolitan Police Department

Gen Alpha Kids: Traits, Lifestyle, and What Sets Them Apart

Broadview ICE facility fence removed after legal battle and protests

US plan for Gaza outlines divided security zones under new proposal

Bitcoin Drops to 16-Month Low: Is a Fall Below $60,000 Imminent?

#taxcompliance

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

Income Tax Audit 2025: Key Deadlines, Rules And Penalties For Businesses And Professionals

Big GST Reforms Coming Soon, PMO Signals Green Light

Big GST Reforms Coming Soon, PMO Signals Green Light

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Pay Rent Above 50000? Know This TDS Rule to Avoid Fines

Smart Financial Tips for International Students: Budgeting, Saving, and Thriving Abroad

Santa Clara County assessor race heats up with record fundraising before special election

Illinois residents targeted by phishing scam using fake legal code

Syria Faces Uncertainty After Assad's Fall: A New Era Begins

Classic and Vintage Cars

DC residents protest federal takeover of Metropolitan Police Department

Gen Alpha Kids: Traits, Lifestyle, and What Sets Them Apart

Broadview ICE facility fence removed after legal battle and protests

US plan for Gaza outlines divided security zones under new proposal

Bitcoin Drops to 16-Month Low: Is a Fall Below $60,000 Imminent?

Popular Cities